Technology
Blockchain Corporate Voting Platform Waves Enterprise Starts Beta Testing
The new platform for Waves uses blockchain to increase the transparency of shareholder voting, and has reportedly already been considered by major companies.
Waves Enterprise has launched voting — an e-voting platform for blockchain-enabled business customers — for public beta testing.
The new service "is to take advantage of all the benefits of blockchain technology while retaining the traditional rules and processes of vote" according to the official announcement published on 28 May.
Artem Kalikhov, head of Waves Enterprise, said that online voting data protection and openness can be guaranteed only by a decentralized solution:
“The blockchain provides a trustless environment for data exchange between independent encryption servers that act as participants of voting protocol. Voting results are protected by cryptographic algorithms. Blockchain technology does not allow forging or stealing a vote.”
The architecture of Voting 's blockchain is reported to be based on consensus algorithms of proof-of-stake and proof-of-authority which it claims to process "up to 1,000 requests a second."
Kalikhov said the platform for electronic voting is important and is interested in confidential internal voting between the employees for companies that practice shareholder vote. He says voting is not limited to a particular industry, and may be carried out by banks, industrial companies, IT giants, petroleum and gas companies and medical institutions.
"With regard to its internal needs, I can say that one Russian oil and natural gas company wants to use the electronic voting service," said he.
The platform will remain free for up to two months for the duration of public beta testing. The full cost of the solution for each customer will be based, among other factors, on the number of nodes in the blockchain network and the number of crypting servers.
Russian Government Approved
Waves Enterprise was added to the Russian Unified Register for Computer and Datenbank Software by the Russian Ministry of Communications in earlier April.
The company was obliged to prove to a representative of Waves Enterprise that their software does not contain proprietary modules, developed by or belonging to foreign companies, does not include commercial secrets and belongs to a Russian company, explained Cointelegraph to him.
